“In Canada, there are five big banks, so many business owners have to deal with antiquated processes such as going to a branch to make a $50,000 wire transfer, plus paying an exorbitant amount of fees. What you have on the U.S. side with Mercury, Brex and Ramp — it just doesn’t exist here. People are used to going to the branch, calling a branch manager just to deal with daily banking operations.”

https://techcrunch.com/2023/06/01/revolut-alums-raise-millions-for-vault-which-offers-banking-services-to-canadian-smbs/